Townhomes might be a different story if the dirt is also separately sold vs common to the 4 units.I'm no expert on lending though and probably plenty of people here have more expertise, but I've sold a lot of condos and townhomes in Dallas in lots of different developments, so just telling you some of what I have seen and experienced. 

If you have expertise or experience in this area, I would greatly appreciate your guidance and insights.

Morris the patina of expertise, not to really help anyone think their way through the challenges of real estate investing.But the only way to counteract this kind of generalized miasma of propaganda and disinformation through edutainment is to pick it apart, to clearly show within the narrative that leads to the investor clicking on the icon or picking up the phone that THIS is a lie, and THIS is a lie, and THAT is a lie, too.

Leveraging my expertise in property acquisition and renovation, I guided the client through each step—from identifying the ideal property and negotiating the purchase to overseeing the conversion process.The conversion involved reconfiguring the existing layout to add an additional rental unit, ensuring compliance with local building codes, and maximizing space efficiency.

Now, we are eager to leverage our expertise for our own venture. 

In every sector of [commercial] real estate, not just office, because of the 500 basis point increase in rates that was vertical.”

It helps that there are a lot of people all vetting these deals together, so we all gain the benefit of each others' expertise. 

Are there any other types of real estate that might represent value sector, energy, healthcare, etc. 

If you don't have sponsorship, by definition you don't have a deal - full stop. in some aspects, but but I'd argue in development you have to find land and partners at the same time. you have to have a competitive advantage and local knowledge. may not apply and probably different sectors. we break development up into multiple raises like Series A, Series B, etc in venture debt and discount equity tranches based on what stage the investor comes in for higher returns it's earlier like when we are investing in engineering services etc we recapitalize and spend our money with an equity sale and recapitalization. structured finance is so interesting 

Leveraging Mike's local market expertise, we secured the property for $268,750.